Multifamily
Kathleen Apartments
415 SW 154th St, Burien, WA 98166
Listing Price: $3,750,000
Investment Overview
Originally constructed in 1970, the Kathleen is a sixteen-unit apartment community located in the heart of Burien. With a 95 Walk Score, this property has everything tenants are looking for in a place to call home. Higher trending rents in the area tell the story of increasing demand in the submarket, which can be attributed not only the asset itself, but its great location. Being in proximity to major employers, the Kathleen is just blocks from restaurants, shopping, grocers, and night life. The Kathleen Apartments consists of fifteen ± 725-square foot one-bedroom/one-bathroom units and a single two bedroom/one bathroom. Each unit features a spacious living and dining room, in-unit W/D, oven/range, and refrigerator. With assumable financing at 3.35%, this offering presents an excellent opportunity to purchase a multifamily building with strong appeal while being able to take advantage of significant rental upside. At a purchase price of $3,750,000, the Kathleen Apartments offers an incoming investor the opportunity to achieve an above market return out of the gate, and finish renovating interiors to stabilize north of a 6% cash-on-cash return.
Kathleen Apartments
Investment Highlights
- Light Value Add Opportunity: Will be available to capture significant rental upside through renovations.
- Attractive Assumable Debt: Assumable 5 Year fixed loan of $2,100,000 at a rate of 3.35%.
- Washer & Dryer: Each unit has its own washer and dryer.
- 95 Walk Score: 95-walk score in the heart of Burien. Block from downtown Burien restaurants, shopping, grocers, and nightlife.
- Excellent Proximity to Major Employers: 20-minute drive to Downtown Seattle and Bellevue.
- Spacious Units: Units averaging 748 square feet.
- Ample Parking For Residents: 26 parking spaces.
- Immediate Access to Public Transit: Close Proximity to Burien Transit Center and Link Light Rail
Exclusively Listed By
Listing Price: $3,750,000
Investment Highlights
- Light Value Add Opportunity: Will be available to capture significant rental upside through renovations.
- Attractive Assumable Debt: Assumable 5 Year fixed loan of $2,100,000 at a rate of 3.35%.
- Washer & Dryer: Each unit has its own washer and dryer.
- 95 Walk Score: 95-walk score in the heart of Burien. Block from downtown Burien restaurants, shopping, grocers, and nightlife.
- Excellent Proximity to Major Employers: 20-minute drive to Downtown Seattle and Bellevue.
- Spacious Units: Units averaging 748 square feet.
- Ample Parking For Residents: 26 parking spaces.
- Immediate Access to Public Transit: Close Proximity to Burien Transit Center and Link Light Rail
Investment Overview
Originally constructed in 1970, the Kathleen is a sixteen-unit apartment community located in the heart of Burien. With a 95 Walk Score, this property has everything tenants are looking for in a place to call home. Higher trending rents in the area tell the story of increasing demand in the submarket, which can be attributed not only the asset itself, but its great location. Being in proximity to major employers, the Kathleen is just blocks from restaurants, shopping, grocers, and night life. The Kathleen Apartments consists of fifteen ± 725-square foot one-bedroom/one-bathroom units and a single two bedroom/one bathroom. Each unit features a spacious living and dining room, in-unit W/D, oven/range, and refrigerator. With assumable financing at 3.35%, this offering presents an excellent opportunity to purchase a multifamily building with strong appeal while being able to take advantage of significant rental upside. At a purchase price of $3,750,000, the Kathleen Apartments offers an incoming investor the opportunity to achieve an above market return out of the gate, and finish renovating interiors to stabilize north of a 6% cash-on-cash return.
Exclusively Listed By
